DODOUSDT trade ideas
Send it flyingThis type of consolidation on tokens like this always seems to be very positive for growth. Looking at the recent spikes in volume, we wouldn't be surprised if the target shown which looks far-fetched now is actually reached within less than 2 months. Either way this is more of a buy and hold trade so anyone who can't be patient should definitely avoid it.
We can also have a look at the volume profile which lets us know that price will just essentially start teleporting upwards if we were to reach the 8.50 area. The volume profile also warns us of an area of supply shown in red which may be able to temporarily drive prices into more consolidation but ultimately should be broken. That would be a potential area to place a partial take profit.
DODOUSDT Daily chart After pullback to the broken resistance and react to the trend line now waiting for big bull movement
Good volume in 1H timeframe
DODO is a good crypto to hold
DODO is a Chinese decentralized finance (DeFi) protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability than automated market makers (AMM).
The top 131 cryptocurrency on coinmarketcap.com
BINANCE: DODO/USDT (inverted Head and Shoulders)🛒 Pair: DODO/USDT 🛒
== SPOT==
⏰ 1400/01/27 ⏰
🕰 16/04/2021 🕰
Duration:
📈 SHORT - MID 📈
Ex: Binance
#146
🛒 Buy 1 : 4.65 - 4.75 🛒
🛒 Buy 2 : hidden 🛒 DCA
👉Sell Targets👈
🎯TP1: 4.95 🥉
🎯TP2: hidden 🥈
🎯TP3: hidden 🥇
🎯TP4: hidden 🚁
🎯TP5: hidden ✈️
🎯TP6: hidden 🚀
⛔️ SL: 3.95 By closing Daily Candle below
inverted H&S break out and retest. hopes are really high for this coin to blast and push high targets in coming days.
DODOUSDT DODOUSDT (1H Chart) Technical Analysis Update
Waiting for the resistance breakout
DODO/USDT currently trading at $5.367
Buy-level: Above $5.45 (only buy if 1h candle closes above $5.45)
Stop loss: Below $4.93
Target 1: $5.75
Target 2: $6.00
Target 3: $6.25
Target 4: $6.50
Max Leverage: 3X
ALWAYS KEEP STOP LOSS...
Follow Our Tradingview Account for More Technical Analysis Updates, | Like, Share and Comment Your thoughts.